The Head of the Business and Economic Bureau of the Ghana Union of Traders’ Associations (GUTA) has urged traders to remain calm despite the recent depreciation of the cedi, assuring that the current decline is not severe enough to disrupt market stability.
Speaking to 3Business on Tuesday, 18 August 2025, Charles Kusi Appiah Kubi, Head of GUTA’s Business and Economic Bureau, said the union’s assessment shows the cedi’s depreciation over the past week is minimal and should not trigger panic within the trading community.
“We have done analyses, and we have come to a conclusion that the cedi has appreciated overall. The decline from the past week is less than 4%, so its effect is nothing for us to worry about,” he stated.
Mr Kubi emphasized that while concerns over currency fluctuations are understandable, the situation does not warrant alarm. Instead, he called on the Bank of Ghana to proactively ensure the availability of foreign exchange through commercial banks to support trading activities.
“We are encouraging the Bank of Ghana, through the commercial banks, to make sure there is enough forex to meet trade demand so that we can manage speculation,” he said.
The comments come at a time when some importers and traders have expressed anxiety over the cedi’s movement, fearing price instability and potential supply chain disruptions.
GUTA maintains that with the right monetary interventions, market confidence can be sustained even amid global economic uncertainties.
